Skip to content

Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

Click Now!


Top Story Technology Related

05/05/2021

TCH and core providers offer MDIs access to RTP Network

PYMNTS.com has reported The Clearing House, Fiserv, FIS, and Jack Henry & Associates have announced they are jointly funding the onboarding fees of minority-owned depository institutions (MDIs) that agree to join the RTP Network in 2021. The fees will be covered for MDIs using Fiserv’s core processing solutions, Jack Henry’s JHA PayCenter or the FIS Open Payment Framework (OPF).

The RTP Network is the real-time payments network operated by The Clearing House. The Clearing House reports that the RTP Network's real-time payment capabilities reach approximately 60% of U.S. demand deposit accounts. The Federal Reserve System is developing a second real-time payments service that would compete with the RTP Network beginning in 2023.

04/30/2021

FDIC 'Office Hours' launched

The FDIC has announced the launch of Office Hours, which offer an opportunity for bankers, fintechs, and other interested parties to have one-on-one conversations with FDIC staff about current and evolving technological innovations related to the business of banking. The first round of Office Hours will focus on artificial intelligence and machine learning.

04/27/2021

IP Protect launched to protect intellectual property rights

U.S. Immigration and Customer Enforcement has reported that the National Intellectual Property Rights Coordination Center (IPR Center), in partnership with Michigan State University’s Center for Anti-Counterfeiting and Product Protection (A-CAPP), U.S. Chamber of Commerce, and the Better Business Bureau have launched “IP Protect.” This joint initiative provides resources – free of charge – to aid small to mid-size businesses in protecting themselves against intellectual property theft and fraud and in gaining cyber security awareness. IP Protect will provide small businesses with the following resources:

  • Direct points of contact for assistance or reporting tips related to IP theft, fraud, cyber intrusions, website fraud and trade secret violations
  • Cyber-attack security and data breach protection and response guidance
  • Brand protection best practices
  • Image and content rights protection guidance (video, image, music)
  • Software development protection
  • Guidance on trademark registration steps and resources

A small sample of the resources and educational materials available to small to mid-size businesses through the IP Protect initiative can be found on the A-CAPP Center’s website.

04/26/2021

OCC conditionally approves national trust bank

The OCC has announced preliminary conditional approval of the application to charter Paxos National Trust, New York. The national trust bank charter was conditionally awarded to Paxos after a thorough review of the company and its current operations.

04/20/2021

Treasury announces Climate Hub and Counselor

On Monday, the Treasury Department announced a coordinated climate policy strategy that will "bring to bear the full force of the Treasury Department on domestic and international policymaking, leveraging finance and financial risk mitigation to confront the threat of climate change [to] position the economy for strong and sustainable growth consistent with a net-zero emissions future."

To implement this strategy, Treasury will focus on the broad range of its climate-related policy work connected to 1) climate transition finance, 2) climate-related economic and tax policy, and 3) climate-related financial risks. As part of this strategy, Treasury is also creating a new Climate Hub to coordinate and enhance existing climate-related activities by harnessing the tools, capabilities, and expertise from across the Department – including from Domestic Finance, Economic Policy, International Affairs, and Tax Policy — and appointing a Climate Counselor to coordinate and lead many of its efforts to address climate change.

04/16/2021

CDRLF Grant Round to open

The NCUA has announced that low-income-designated credit unions seeking Community Development Revolving Loan Fund (CDRLF) grants in 2021 will be able to apply between May 3 and June 26. The agency will administer approximately $1.5 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. Grants will be awarded in three categories:

  • Underserved Outreach (maximum award of $50,000);
  • Minority Depository Institution Mentoring (maximum award of $25,000); and
  • Digital Services and Cybersecurity (maximum award of $7,000).

04/16/2021

Treasury escalates Russia-related sanctions

The U. S. Department of the Treasury issued three press releases on Thursday announcing escalated sanctions against the Russian government's attempts to influence U.S. elections, the sanctioning of Russian persons in the Crimea region of Ukraine, and actions taken against Russia under a sweeping new sanctions authority.

Treasury's Office of Foreign Assets Control (OFAC) took action against 16 entities and 16 individuals who attempted to influence the 2020 U.S. presidential election at the direction of the leadership of the Russian Government, following the Intelligence Community’s “Assessment of Foreign Threats to the 2020 U.S. Federal Elections.” The assessment addresses the intentions and efforts of key foreign actors, including Russia, to influence or interfere with the U.S. elections and undermine public confidence in the election process.

OFAC also designated five individuals and three entities related to Russia’s occupation of the Crimea region of Ukraine and its severe human rights abuses against the local population.

Under the authority of a new Executive Order targeting aggressive and harmful activities by the Government of the Russian Federation, OFAC issued a directive that generally prohibits U.S. financial institutions from participating in the primary market for ruble or non-ruble denominated bonds issued after June 14, 2021 by the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation, and further prohibits U.S. financial institutions from lending ruble or non-ruble denominated funds to these three entities. This directive expands upon existing prohibitions on certain dealings in Russian sovereign debt that have been in place since August 2019.

OFAC also designated ERA Technopolis; Pasit, AO (Pasit); Federal State Autonomous Scientific Establishment Scientific Research Institute Specialized Security Computing Devices and Automation (SVA); Neobit, OOO (Neobit); Advanced System Technology, AO (AST); and Pozitiv Teknolodzhiz, AO (Positive Technologies), all of which are companies operating in the technology sector of the Russian Federation economy that support Russian Intelligence Services.

Additional information and identification of the persons designated under OFAC's actions can be found in BankersOnline's OFAC Update.

04/13/2021

FDIC and Pratt School partner to promote innovation

Yesterday, the FDIC and Duke University’s Pratt School of Engineering announced a strategic partnership to support technological innovation in the banking and financial services sectors. Duke Engineering is home to a range of programs that apply technology to enterprise innovation, including master’s degree programs in FinTech, Cybersecurity, AI for Product Innovation and Engineering Management.

04/12/2021

Agencies' statement and RFI on BSA model risk management guidance

The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, on Friday issued a joint statement addressing how risk management principles described in the "Supervisory Guidance on Model Risk Management" relate to systems or models used by banks to assist in complying with the requirements of Bank Secrecy Act laws and regulations. The statement further notes that it does not alter existing BSA/AML legal or regulatory requirements or establish new supervisory expectations, and that no specific model risk management framework is required.

The agencies, along with the National Credit Union Administration and the Financial Crimes Enforcement Network, also announced a request for information on the extent to which the principles discussed in the guidance support compliance by banks and credit unions with BSA/AML and Office of Foreign Assets Control requirements. The agencies are seeking comments and information to better understand bank practices and determine whether additional explanation or clarification may be helpful.

Comments to the RFI will be accepted for 60 days, through June 11, 2021.

04/12/2021

President’s priorities for discretionary funding

Department of Homeland Security Secretary Mayorkas issued a statement Friday on the president's priorities for fiscal year 2022 discretionary spending, which have been submitted to Congress. The budget invests in key DHS missions, including repairing a broken immigration system, better managing the border with advanced technology, protecting civil rights, and bolstering cyber defenses and resilience. The discretionary request also includes investments to address the root causes of domestic terrorism, combat climate change, and increase funding for research and development.

Pages

Training View All

Penalties View All

Search Top Stories